Iridium provides an alternative PNT architecture for environments where GPS and other GNSS signals are degraded or unavailable.
The acquisition implies an enterprise value of approximately $8.0 billion for Iridium.
Iridium operates approximately 80 cross-linked low Earth orbit satellites using globally harmonized L-band radio frequency spectrum.
The boards of directors of Rocket Lab and Iridium unanimously approved the acquisition.
The acquisition combines Rocket Lab’s small-to-medium launch assets and satellite manufacturing facilities with Iridium’s operational commercial low Earth orbit network.
The combined Rocket Lab-Iridium company plans to prioritize direct-to-device services under the Iridium NTN Direct brand, next-generation constellation development, and defense applications in denied or degraded communications environments.
Iridium holds globally coordinated L-band spectrum and provides voice, data, positioning, navigation, and timing services.
Wells Fargo and PJT Partners are advising Rocket Lab on the Iridium acquisition.
The stock exchange ratio in the Rocket Lab-Iridium transaction is subject to a collar banded between $67.50 and $112.50.
The Rocket Lab-Iridium deal is expected to close in mid-2027, pending Iridium stockholder approval and regulatory clearances.
Iridium’s 2025 operational EBITDA margin was 57%.
Iridium provides voice, data, and Internet of Things connectivity for remote maritime, aviation, and defense applications.
Iridium stockholders will receive $27.00 in cash plus Rocket Lab common stock for each share they hold under the merger terms announced June 29.
Evercore is the exclusive financial advisor to Iridium on the transaction.
Iridium operates an active global constellation that supports more than 2.55 million active commercial and government subscribers.
Iridium stockholders will receive $27.00 in cash and a variable number of Rocket Lab common stock shares in the transaction.
Wilson Sonsini Goodrich & Rosati, P.C. is serving as legal counsel to Rocket Lab on the Iridium acquisition.
Iridium reported $495 million in Operational EBITDA in fiscal year 2025.
Rocket Lab Corporation and Iridium Communications Inc. entered into a definitive agreement on June 29, 2026 under which Rocket Lab will acquire all outstanding shares of Iridium common stock.
The stock portion of the Rocket Lab–Iridium transaction will use a net exchange ratio based on Rocket Lab’s 10-day volume-weighted average price at closing, with a collar ranging from $67.50 to $112.50 per share.